OPEC’s biggest producer Saudi Arabia would need oil prices at US$80-85 per barrel in order to balance its 2019 budget, Jihad Azour, Director of the Middle East and Central Asia Continue Reading
The oil market should reach a balance between supply and demand in the first quarter of this year, United Arab Emirates’ Oil Minister Suhail Al Mazrouei told Al-Arabiya television on Continue Reading
The Saudi-backed government in Yemen hopes to scale up its crude production to 110,000 barrels per day (bpd) in 2019, with exports touching about 75,000 bpd, its oil minister told Continue Reading
Iran’s oil customers should not expect new U.S. waivers in May, the U.S. Special Representative for Iran, Brian Hook, said this week, urging buyers to stop importing Iranian oil. “What Continue Reading
Kurdistan’s two dominant political parties have made a breakthrough in their long-running negotiations to form the next Kurdistan Regional Government (KRG) — talks that also aim to decide the governorship Continue Reading
Saudi Arabia, the world’s top oil exporter, cut its crude output in January by about 400,000 barrels per day (bpd), two OPEC sources said, as the kingdom follows through on Continue Reading
The U.S. plan to withdraw its troops from Syria will not give Islamic State an opportunity to try to retake some oil fields in the war-torn country, U.S. Secretary of Continue Reading
The Trump administration is confident that key ally Saudi Arabia will fill any oil supply gap caused by US sanctions on Venezuela, with refineries along the Gulf Coast told not Continue Reading
OPEC pumped the fewest barrels since March 2015 in January, with crude output plunging to 30.86 million b/d, a fall of 970,000 b/d from December as new supply quotas went Continue Reading
Iran has recoverable crude oil reserves of 160 billion barrels, the National Iranian Oil Company said, adding recoverable natural gas reserves came in at 33.33 trillion cubic meters, Mehr news Continue Reading
